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Risk & Fraud

Why Rewards for Loyal Spenders Are ‘a Honey Pot for Hackers’

May 13 2019

• in
• Incentives

“The punch cards stuffed in your wallet know next to nothing about you, except maybe how many frozen yogurts you still need to buy to get a free one. But loyalty programs, as they shift from paper and plastic to apps and websites, are increasingly tracking a currency that can be more valuable than how […]

On The Web

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Use

MetroRio Launches Contactless Transit Ticketing Payments in Brazil

May 14 2019

• in
• Transit payments

“Brazilian transit operator MetroRio, which runs the Rio de Janeiro Metro, has begun the rollout of contactless payments in partnership with Visa , Banco do Brasil , Bradesco and Cielo , becoming the first transit operator in the world to use the new Visa Secure Access Module (SAM) technology as part of the project. The […]

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Global

Visa Onboards the Indian Govt’s One Nation One Card Project – ETtech

May 13 2019

• in
• Transit payments

“Global card payment network Visa has launched the specification for National Common Mobility Cards ( NCMC ) on its network as conceived by the Indian government .The NCMC has been designed as an ‘open loop card’ to allow consumers to swipe them for all sorts of transactions right from transit to toll and even for […]

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Reports

Fintechs and Financial Inclusion

May 13 2019

• in
• Financial Inclusion

“This paper documents CGAP’s work with 18 fintech pilots in Africa and South Asia. The goal of this paper is to explain innovations in a detailed way and generate insight on whether the services (i) work as stated, (ii) create value for underserved customers, and (iii) ease age-old pain points in delivering financial services to […]

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Use

Millennials Are Helping to Sound the Credit Card Alarm

May 15 2019

• in
• Underwriting

“Some 8.05% of outstanding credit card debt among Americans between the ages of 18 and 29 was delinquent by at least 90 days, the highest level since early 2011, according to data released this week by the Federal Reserve Bank of New York. That’s by far the highest share among age groups and up from […]

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Risk & Fraud

Updates to the Visa Chargeback and Fraud Monitoring Programs

May 16 2019

• in
• Chargebacks

“Since restructuring in 2016, Visa’s chargeback and fraud programs have undergone some changes, and we recently learned that further changes will become effective October 1, 2019. Our goals here are to outline these new changes and to provide a singular resource for all your Visa program-related needs. Please bear in mind that Visa’s chargeback and […]

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Use

Rethinking Loyalty: Rewarding Everyone Is Not Rewarding You – Retail TouchPoints

May 17 2019

• in
• Loyalty

“The Pareto Principle tells us that 80% of revenue comes from the top 20% of customers; therefore, should these top customers be treated differently? The hospitality industry gets it. So does the financial industry. But in general, the retail industry is still issuing generic loyalty cards to the masses, when they should be offering customized, […]

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Systems

Exclusive: Banks to Invest Around $50 Million in Digital Cash…

May 20 2019

• in
• Cryptocurrencies
• Settlement

“Several of the world’s largest banks are in the process of investing around $50 million to create a digital cash system using blockchain technology to settle financial transactions, according to people familiar with the plans. The previously disclosed project, known as the “utility settlement coin,” was first proposed by Swiss bank UBS Group AG and […]

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Deals

JPMorgan to Acquire Healthcare Payments Company InstaMed

May 17 2019

• in
• Healthcare

“JPMorgan Chase & Co said Friday it is acquiring InstaMed, a U.S. healthcare payments technology company. The deal gives JPMorgan the chance to add a new, niche business sector to its wholesale payments business, which the bank has steadily expanded in recent years.”

On The Wires

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Reports

Digital Transformation of Finance Accelerates: Study Shows ~20% of Businesses Plan to Automate Accounts Payable Within One Year

May 16 2019

“The survey revealed 43% of finance professionals work for companies that have either already implemented accounts payable automation technology (24%), or plan to within one year (19%). This represents a 30% increase over the number of companies responding similarly in last year’s survey, reflecting the increasingly mainstream adoption of automation technology by finance professionals.”